Despite a slight dip from the previous week, the mobile New York sports betting handle total for this month figures to easily surpass the result from September 2022. That became apparent as the revenue report was released Thursday afternoon for the week ending Sept. 17 by the New York State Gaming Commission (NYSGC).
The past two weeks ($416,062,583 and this week’s $400,521,863) combine for $816.58 million. That dwarfs the $626,65 million total of the corresponding two weeks in September of 2022 ($328,981,056 and $296,669,770). So, it would be a major surprise if this September doesn’t top the $1.256 billion posted a year ago.
Slight Drop in Handle, Big Drop in Revenue
This week’s handle remained above $400,000, another sure signal that football has arrived. It was down more than $15,000 from the week before, though. The handle has been above $400,000 for two consecutive weeks. The last time a weekly handle surpassed that mark was during March Madness, the week of March 19.
The Gross Gaming Revenue (GGR), however, fell by about 50 percent, from $56,627,748 to $28,429,086. Of course, last week’s revenue figure was the second highest in state history, behind only $57.5 million for the week ending Jan. 22, 2023, so a dip makes sense. New York sports betting apps have been in place since Jan. 8, 2022.
The state collected $14,498,834 in taxes. New York’s tax rate of 51 percent is tied with New Hampshire for the highest in the nation. Since launch, the Empire State has compiled more than $28.35 billion in handle and $2.4 billion in GGR. The state now has collected just shy of $1.26 billion in taxes.
Top Two Sportsbooks Keep Rolling
The top two sportsbooks continued to dominate in the state. Combined, FanDuel NY and DraftKingsNY account for 71.3% of the cumulative handle. FanDuel fell to second this week and dropped considerably, from $195.5 million to a little less than $140 million in handle. DraftKings took the top spot at $179.67 million for the week.
The rest of the sportsbooks followed:
- Caesars Sportsbook NY ($38,86M handle, $1.86M GGR)
- BetMGM ($23.7M, $1.3M)
- BetRivers ($10.2M, $1.03M)
- PointsBet ($5.26M, $101,742)
- WynnBet ($2.5M, $203,652)
- Resorts World ($1.3M, $91,427)